Japan approves US$10.7b stimulus package

The cabinet of Japanese Prime Minister Yoshihiko Noda on Friday approved a US$10.7 billion economic stimulus package, reports said, ahead of elections that his ruling party is widely expected to lose.

The new government spending of 880 billion yen (US$10.7 billion), reported by Dow Jones Newswires and Japanese media, was more than double an earlier package announced in October.

Approving a spending package after calling an election has been viewed as an unusual move that may trigger vote-buying criticism from opposition lawmakers.

via Business feed http://www.scmp.com/business/economy/article/1094481/japan-approves-us107b-stimulus-package